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ACES News

September 26, 2023

ACES: Critical Defect Rate Down for Q1 2023

ACES Quality Management, Denver, reported the overall critical defect rate for the first quarter of 2023 was 1.78%. That’s down 3.26% from the previous quarter, and the second straight quarter of declines.

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September 25, 2023

Mortgage defect rates likely to improve, Aces says

Mortgage manufacturing quality continued to improve during the first quarter, a bright spot in an industry that tolerates a certain level of misrepresentations at times of tight margins and low volume.

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September 11, 2023

From reactive to proactive: reshaping QC for today’s mortgage landscape

The mortgage industry has witnessed its fair share of tribulations and transformations, but its response to those challenges and changes is often a tale of reactiveness.

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July 27, 2023

With Volumes Down, Turn Your Attention to QC Operations

While credit unions have been slow to adopt technology in the QC and auditing space, the current market conditions necessitate a strategic approach to quality control and compliance without sacrificing compliance.

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July 25, 2023

RESPRO features discussion on fair servicing, lending trends

The executive vice president of compliance at ACES Quality Management and the practice leader of Ballard Spahr’s Mortgage Banking Group spoke to attendees at RESPRO’s spring session about what trends they are seeing in fair servicing and lending enforcement.

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June 23, 2023

Critical Defect Rate Falls to Under 2%

ACES Quality Management, a provider of enterprise quality management and control software services for the financial services industry, has released it’s 2022 year-end Mortgage QC Industry Trends Report which found overall that the critical defect rate at the end of the fourth quarter of 2022 declined 25.5% over the third quarter of 2022, ending the year at 1.84%.

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June 16, 2023

Mortgage production defect rates declined in 4Q

Improvements in mortgage loan production processes resulted in fewer manufacturing errors in the fourth quarter of 2022 versus the previous three-month period, according to Aces Quality Management.

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June 14, 2023

Rate of Critical Defects in Mortgage Loans Fell in Q4 – Along With Volume

The rate of defects in mortgage loans post-closing fell in the fourth quarter of 2022 as mortgage origination volume slowed to a trickle, according to ACES Quality Management’s latest Quality Control Trends Report.

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May 17, 2023

Originations with High-Quality Compliance Testing

If the year thus far could be summed up in one word, it would be “volatility.”

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April 10, 2023

Spring Your QC Forward or Fall Behind Fannie Mae’s New Requirements this September

Originally known as “war time,” Daylight Savings Time was first instituted during World War I as a fuel saving measure and, as of 2005, officially occurs on the second Saturday in March. This spring, Fannie Mae announced changes to its selling guide that, once instituted, will spring lenders’ quality control (QC) and compliance departments forward. While the changes were announced on March 1, 2023, they aren’t slated to take effect until September 1 of this year, meaning lenders have nearly six months to update their compliance operations.

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